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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Crimson Ghost who wrote (21738)	11/13/2004 1:38:32 PM
From: russwinter	Read Replies (2) \| Respond to of 110194

Unloading huge supply of junk on them: November 9 – Dow Jones (Simona Covel ): “After months of expectation, the high-yield market faces an explosion of new issuance as about $1.6 billion in deals is expected to hit the market Tuesday and Wednesday. The new deals come from issuers all over the rating spectrum… The new deals are expected to fare well in an environment where investors, frustrated by the last few months’ trickle of issuance, are desperate for fresh buying opportunities.” Junk bond inflows jumped to $601.5 million (from AMG), with funds now enjoying positive flows in 11 of the past 12 weeks. Issuers included Elan $1.15 billion, Tenneco $500 million, Inmarsat Finance $450 million, Thornburg Mortgage $305 million, Alrosa Finance $300 million, Affina Group $300 million, Williams Companies $270 million, Ultrapetrol $180 million, AAC Group Holding $132 million, Integrated Alarm $125 million, and Gabelli Asset Management $71million. Convert issuers included NCI Building Systems $150 million.